How Should You Manage Joint Family Finances?

Let's Talk Money with Monika Halan

18-07-2024 • 12 mins

Today, Monika dives into the complexities of managing finances in a joint family setup. From sharing expenses and building personal assets to ensuring proper insurance and drafting a Will, she offers practical advice to help you navigate the financial dynamics of living with extended family. With real-life stories of both pitfalls and successes, Monika guides you on how to balance love, responsibility, and financial independence within the family. Tune in for essential tips on maintaining harmony and securing your financial future amidst the challenges of joint family living.

Monika also tackles pertinent questions about how to get your finances in order before marriage, whether or not you should invest in the NPS if you already have an EPF, and whether broad market indices can be manipulated to your benefit.

Chapters:

(00:31 - 04:21) Finances in Joint Families

(04:36 - 07:45) Streamlining Finances and Investments Before Marriage

(07:48 - 08:54) Should You Invest in the NPS?

(08:56 - 11:28) Investing in Broad Market Indices

If you have financial questions that you’d like answers for, please email us at mailme@monikahalan.com

Monika’s column on the issue

https://www.livemint.com/Money/bTh6OKNzSIv1slJFyyYGvL/Joint-family-finances-minefield-of-embedded-emotional-bombs.html

Monika’s book on basic money management

https://www.monikahalan.com/lets-talk-money-english/

Monika’s book on mutual funds

https://www.monikahalan.com/lets-talk-mutual-funds/

Calculators

https://investor.sebi.gov.in/calculators/index.html

You can find Monika on her social media @monikahalan.

Twitter @MonikaHalan

Instagram @MonikaHalan

Facebook @MonikaHalan

This is a Maed In India Production; check us out at www.maedinindia.in

Creative Director: Mae Mariyam Thomas

Project Manager: Shaun Fanthome

Head of Audio: Kartik Kulkarni

Producer: Meghna Gulati

Sound Editor: Lakshman Parsuram

Artwork: Alika Gupta